Multiple cryptocurrency and blockchain associations advocating for the sector are urging the “prompt confirmation” of Brian Quintenz as chair of the US Commodity Futures Trading Commission (CFTC).
In a letter addressed to US President Donald Trump on Wednesday, representatives from various crypto organizations reiterated their backing for Quintenz’s confirmation in the Senate after his nomination by the president.
Among the signatories were the Crypto Council for Innovation, Blockchain Association, Decentralization Research Center, DeFi Education Fund, The Digital Chamber, Satoshi Action Fund, and Solana Policy Institute.
The advocacy groups contended that Quintenz is “exceptionally well-suited” to lead the CFTC, thanks to his knowledge and experience with digital assets.
Following his nomination to chair the agency in February, he was referred to the Senate Agriculture Committee, which postponed a vote just days before the chamber was set to break for an August recess.
The committee indicated that the delay was at the request of the White House. A report in August also mentioned that Gemini co-founders Cameron and Tyler Winklevoss urged Trump to reconsider Quintenz’s nomination, asserting that he might not fully implement the president’s crypto agenda as CFTC chair.
Wednesday letter to Donald Trump. Source: Crypto Council for Innovation
“As clearly outlined in the Presidential Working Group on Digital Asset Markets Report, the CFTC faces many critical, complex, and nuanced goals ahead, including collaborating with Congress to create a comprehensive federal market structure framework with proper oversight of digital asset commodities, to support your Administration’s agenda,” stated the letter, adding:
Installing a permanent Chairman to the CFTC is essential for achieving these objectives […]
Quintenz previously held the position of CFTC commissioner under Trump from 2017 to 2021, having been nominated by former US President Barack Obama in 2016.
Related: Trump’s CFTC chair pick won’t push president for bipartisan commission
Financial regulator facing a staff exodus
Even if Quintenz’s confirmation moves swiftly through the Senate after the recess on Sept. 3, the regulator still has vacancies that may hinder its operations related to crypto and beyond. Currently, the five-member panel consists only of acting CFTC Chair Caroline Pham and Commissioner Kristin Johnson.
Commissioners Summer Mersinger and Christy Goldsmith Romero, along with former chair Rostin Behnam, left the CFTC earlier this year. Johnson stated she intends to depart before 2026, while Pham mentioned she plans to transition to the private sector if Quintenz is nominated, implying that the prospective chair may remain the sole voice until Trump appoints additional candidates to the agency.
In a statement to Cointelegraph, a representative from the Crypto Council for Innovation emphasized the necessity of confirming CFTC leadership amid a two-commissioner panel, the absence of a permanent chair, and pending legislation for crypto market structure.
Senator Cynthia Lummis, a leading advocate for the chamber to pass market structure legislation, asserted that the bill—which could clarify the roles of the CFTC and Securities and Exchange Commission over crypto—will be enacted before 2026.
Magazine: Bitcoin’s long-term security budget problem: Impending crisis or FUD?
